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Ps....but what do I know ..lol I'm sure the company really ..really wants to buy something...but now ..I hope not buy low ..sell high applies to individuals AND companies !!
Totally agree Noeasy, I wrote on another site (advn ) inmate 2019!! "So SEY are looking for a acquisition? Hope they are looking at JOG at 70p mkt cap £12million with ,£14 million cash and possibly good prospects for future oil ,if SEY are really serious about doing something why not bid £1.10 a share ,cost of £18 million ,JOG share holders gain 50 per cent and SEY gains £14 million cash and still have £15 million of there cash left,So they then have brought oil company for ,£5million a no brained to me ???
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25/4/2019
11:02 ...So the words "boat missed the " come to mind ...
Plus the majors have a WORLD of problems with court cases in their home countries compelling them to transition faster and board seats being lost to activists.
They have transition targets to meet now, not sit on their oil fields and take cash flow - they'll get hammered for that.
And they'll get hammered for selling to an inexperienced board. There's only Boru Energy and Afentra that I can see are fit to take a transition
Forward curve data
https://www.cmegroup.com/trading/energy/crude-oil/brent-crude-oil.html#
Hi Noeasy. Generally the bargaining done at the oil forward curve so thats still well below spot - for example
Sept 2022 is 67 and June 23 $65.
Still time! (Especially if all these +100 $ articles are to be believed
Plus the transition agenda of the majors would hurry them up
Rift the concern I have is that we are now bouncing along a superior oil price. Agree the majors will be looking to offload some projects but even so they won't be given away for nothing in this oil price environment. The opportunity to use the cash we had was there, right in front of our face for a considerable period of time when the oil industry was on its ar*e yet we didn't make a move. Maybe the holders selling down have taken note.
Thanks
- a bit crap.
I agree with you.
Maybe a quick escalation to Mr Mc Dade, see what is going on?
They have not so far.
You`re assuming they will not or they have not (responded)?
They will not respond.
Have you contacted them for an explanation?
S
Hi Donmac101
Not really about individual trades but the volume post February and lack of disclosure. it’s improper (at best) not to properly disclose the new shareholders of the February secondary market placing - (Waterford and Mistyvale sold 99 m shares at 15 pence, 62 million was to management and New large holders but there was an assumption that the other 37 million shares ( the “unaccounted for” shares) went to normal “institutional and high net worth individual shareholders” ( remember , all at 15p). Using the last old Sterling Energy Corporate Presentation, Retail was 43 million shares here , 19% ( 24% less YF finance’s 5% . YF accumulated between April and September last year ) , who were never updated on the Sterling presentation .
The volume however has been 87 million since 19 February ( in a sideways or downward SP fashion ) .
Tennyson securities were weirdly appointed as Joint Broker in March .
To me I am guessing that there were no holders below the 3% mark in the February and that a broker had responsibility for selling the 37 million . However the 23 February release stated the 99m Waterford and Mistyvale shares were sold and not part of a staggered sale agreement so a TR1 for any holder greater than 6 m shares within the unaccounted for shares should have been released .
The other scenario where the unaccounted for shares were genuinely sold to holders less than 3% and didn’t need disclosure , is highly implausible because the 90m shares traded since 19 February ( 41 % of the company with no TR1s . It’s total nonsense and they’re taking us for fools .
Having said all that I’m still buying here so I’m happy to pick up cheap shares but the share price is totally ridiculous given cash is 14 pence and there’s a free carry on a future well in Somaliland thrown in for free ! ( if Genel , who are carrying us , elect to drill ) . The asset value carried in the books for Somaliland is $22 million so it ain’t worth nothing ! ( actually 7p)
So cash 14p plus Somaliland 7 p =21p !
And former Tullow CEO and team who’ve managed billions ... ZILCH , in fact negative value .
I guess we’ll just have to wait for a deal but a share price as high as possible before the deal was what I was hoping for . 25 p before a deal would be a more reflective deal .
And IF they had same management premium as Kistos had before their Tulip deal , then it equates to about 33 p and that’s with only 1 p for Somaliland
Why fret over dailly trades once a deal is announced lets see where we are at cant understand people fretting over trades they have no control over .ffs
https://twitter.com/BobInvest/status/1404427051990409218?s=20
Retail was only 43 million shares in February
89 million has changed hands since 19 February
Wheres the FFIN TR1